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Flexibility has long been a cornerstone of the British Virgin Islands’ financial services industry. BVI companies are often used as public companies and listed on major exchanges worldwide, but they can just as easily be used as an asset-holding vehicle for an individual or family office. This trend continues with BVI funds which offer a variety of choices to suit different managers, investor types, and structures.
Established BVI fund types
The flagship BVI fund is the professional fund, the typical choice for most hedge funds, funds of funds, and alternative investment funds. The professional fund is ideal for high-net-worth investors. Investors
SkyBridge Capital has adopted an “overly bullish” view on cryptocurrencies, says founder Anthony Scaramucci, and is betting that there will be a sustained turnaround in the digital assets space during 2023, according to a report by Reuters.Â
BlackRock has reported a year-on-year AUM decline of 14.41% at the end of the final quarter of 2022 to $8.59 trillion from AUM of $10.01 trillion in the same period of the previous year, according to a report by Pensions & Investments Online.
Castlelake, a global alternative investment manager specialising in asset-backed private credit with 17 years of experience investing in, financing and managing aviation assets, has created a Bermuda-licensed reinsurance company, Itasca Re Limited, to offer insurance financing solutions to buyers and owners of commercial aircraft assets.
Digital asset investment products saw minor inflows totalling $9.2 million last week, while trading volumes remained low at $866 million for the week, both suggesting that the recent rally in digital assets was not investment product led.
Euronext is to expand Euronext Clearing to the Euronext derivatives markets for Q3 2024 with Euronext Clearing becoming the exchange’s clearing house of choice for cash equity, listed derivatives and commodities markets.Â
PwC’s UK Deals Insights and Analytics team has chosen Doorda Data Products to augment its analytics capabilities for hedge fund, private equity, and corporate clients. Doorda researches, consolidates, links and updates open data from hundreds of publishers into a cloud data platform.
By incorporating data from Doorda, PwC says its UK Deals Insights and Analytics team can focus on the analytics work that is critical when executing deals.
PwC says the team is also looking to capitalise on features unique to the Doorda Data Platform; historical data not kept by data publishers, data specifically harvested by Doorda using Freedom of Information
Q&A with Paul Waldron, Walkers
1. How has the sentiment towards crypto and digital assets changed in the past year? Does this differ within the BVI compared to other regions?
Sentiment in BVI towards crypto and digital assets generally has largely tracked sentiment internationally. Interest in crypto and digital assets generally spiked during the pandemic, with prices for Bitcoin and most major crypto currencies, coins and NFTs hitting a peak in late 2021. Since then, as the prices of crypto currencies and tokens drifted lower (and in some cases to close to zero) the sense of FOMO gradually evaporated from the
There is correspondingly less commentary on the inevitable corollary: the end. What we call the beginning is often the end. And to make an end is to make a beginning (T.S. Eliot).
Funds come to an end for a multitude of reasons. On one hand, underperformance, fixed termination dates or illiquidity may necessitate closure. On the other, more ominous factors can be at play such as a market collapse, adverse litigation, regulatory action, perhaps fraud.
This article approaches fund closure primarily from a solvent wind down perspective with thoughts on insolvent situations.
Wind down
Investment managers focus on how to
The aftermath of the Covid-19 pandemic has started to bite. The IMF’s World Economic Outlook as at October 2022 records a broad-based and sharper-than-expected slowdown in global economic activity. Inflation is at decades high levels. Russia’s invasion of Ukraine and the costs of the pandemic have led to a global cost-of-living crisis.
The global growth is forecast to slow from 6% in 2021 to 3.2% in 2022 to 2.7% in 2023. Conversely, global inflation is expected to rise from 4.7% in 2021 to 8.8% in 2022 and then, thankfully, to decline to 6.5% in 2023 and 4.1% by 2024.
The
